Wednesday, December 22, 2010

What is a Deed?

A deed is a legal document that is used to transfer ownership of real estate from one person or entity to another. Although the law governing deeds differs from state to state, a deed generally must satisfy the following seven requirements to be effective and valid:

1. Written document – the deed must be in writing.
2. Grantor – the deed must identify the person(s) who own(s) the real estate and is/are transferring it.
3. Grantee – the deed must identify the person(s) receiving title to the real estate.
4. Granting clause – the deed must contain a clause that transfers title from the grantor(s) to the grantee(s).
5. Legal description – the deed must contain a legal description of the property being transferred.
6. Execution, delivery and acceptance – the deed must be signed by the grantor(s), delivered to the grantee and accepted by the grantee.
7. Recordation – the deed is filed or recorded at the land records office in the county where the property is located. (This office is referred to by different names in different states, but is usually called the County Clerk's Office, City Register’s Office, County Recorder's Office, Register of Deeds, or Land Registry Office.)

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